How to calculate your real SEO ROI
Track conversions in GA4 with revenue values where possible. Even imperfect conversion values are better than 'leads' as the only metric.
Use a 90-day attribution window for service businesses (B2B sales cycles especially run 30–90 days from first touch to close).
Include lifetime value, not just first transaction. A Toronto dental patient acquired via SEO is worth C$4,000–C$12,000 in lifetime value, not the C$200 initial cleaning.
Why SEO ROI looks different from paid
Paid ads stop generating leads the moment you stop spending. SEO compounds — month 12 traffic and leads are typically 5–10x month 3 from the same monthly investment.
The right comparison is total cost of acquisition over 18–24 months, not per-month spend. SEO usually wins decisively on that timeframe and continues to deliver after the engagement ends.